人民币汇率与利率的区制转变关系研究 关键词：人民币实际汇率；实际利率；区制转变 [gap=8965]Key words：real exchange rate of RMB，real interest rate，regime switching
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中国现在最不需要的就是人民币实际汇率的进一步升值。
The last thing it now needs is a further appreciation of the real exchange rate.
特别是2007年以来，人民币实际汇率有轻微高估趋势。
Especially 2007 later, RMB real exchange rate has a little overvalued.
要求人民币升值的理由之一就是人民币实际汇率存在低估。
The reason that some peoples think that the Chinese government should appreciate RMB exchange rate is that RMB exchange rate has been underestimated.
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